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Report No. : |
346403 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SUGANUMA TRADING CO LTD |
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Registered Office : |
1-17-1 Aonuma Kofu Yamanashi-Pref 400-0867 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2014 |
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Date of Incorporation : |
February, 1984 |
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Com. Reg. No.: |
0900-02-001715 (Yamanashi-Kofu) |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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LINE OF BUSINESS : |
IMPORT, WHOLESALE OF DIAMONDS, OTHER PRECIOUS STONES, JEWELRY |
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No. of Employee : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry
cooperation, a strong work ethic, mastery of high technology, and a
comparatively small defense allocation (1% of GDP) helped Japan develop an
advanced economy. Two notable characteristics of the post-war economy were the
close interlocking structures of manufacturers, suppliers, and distributors,
known as keiretsu, and the guarantee of lifetime employment for a substantial
portion of the urban labor force. Both features are now eroding under the dual
pressures of global competition and domestic demographic change. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been impressive - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the aftereffects of inefficient investment and an
asset price bubble in the late 1980s that required a protracted period of time
for firms to reduce excess debt, capital, and labor. Modest economic growth continued
after 2000, but the economy has fallen into recession four times since 2008.
Government stimulus spending helped the economy recover in late 2009 and 2010,
but the economy contracted again in 2011 as the massive 9.0 magnitude
earthquake and the ensuing tsunami in March of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) negotiations in 2013, a pact that would open Japan's economy to increased
foreign competition and create new export opportunities for Japanese
businesses. Measured on a purchasing power parity (PPP) basis that adjusts for
price differences, Japan in 2014 stood as the fourth-largest economy in the
world after first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
SUGANUMA
TRADING CO LTD
REGD NAME: YK
Suganuma Boeki
MAIN OFFICE: 1-17-1
Aonuma Kofu Yamanashi-Pref 400-0867 JAPAN
Tel: 055-237-1888 Fax: 055-233-7300
URL: N/A
E-mail address: suganuma@crux.ocn.ne.jp
Import, wholesale of diamonds, other
precious stones, jewelry
India (business partner)
(subcontracted)
KIYOZUMI SUGANUMA, PRES
Eiko Suganuma, dir
Shuji Tsuchiya, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 260 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 5 M
TREND UP WORTH Yen 111 M
STARTED 1984 EMPLOYES 5
IMPORTER SPECIALIZING IN DIAMONDS &
JEWELRY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$500,000.00 / DA TERMS.
The subject company was established by
Kiyozumi Suganuma in order to make most of his experience in the subject line
of business. This is a family-based
trading firm for import and wholesale of polished diamonds, and other precious
stones. Goods are imported from India
centrally. Stones are partially
subcontracted mfg into jewelry products at local jewelry processors. Clients are jewelry processors, makers,
jewelry stores, etc centering in Kofu-Pref, extending into the greater-Tokyo
region.
Financials are only partially
disclosed. Profits are not disclosed and
only estimated.
The sales volume for Aug/2014 fiscal term
amounted to Yen 260 million, a 4% up from Yen 250 million in the previous
term. The net profit is estimated posted
at Yen 6 million, compared with Yen 5 million a year ago.
For the term that ended Aug 2015 the net
profit was projected at Yen 7 million, on a 4% rise in turnover, to Yen 270
million. Final results are yet to be
released.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements.
Date Registered: Feb 1984
Regd No.:
0900-02-001715 (Yamanashi-Kofu)
Legal Status: Private Limited
Company (Yugen Gaisha)
Regd Capital: Yen 5 million
Major shareholders (%): Kiyozumi Suganuma
(60), Eiko Suganuma (10)
No. of shareholders: 5
Nothing detrimental is known as to the commercial
morality of executives.
Activities: Imports and
wholesales polished, precut diamonds and other gem stones, jewelry products,
other (--100%).
Goods are imported centrally from India.
Partially processes them into jewelry
products on consignment to local jewelry processors.
Clients: [Jewelry
processors, jewelry stores] Gosho Jewel, Meijido Co, Takano Kikinzoku, Higuchi
Inc, Watanabe Seigyokudo, other.
No. of accounts: 200
Domestic areas of activities: Centered in
Kofu-Pref, extending into greater-Tokyo area.
Suppliers: [Mfrs, wholesalers] Imports from
India centrally, other from Israel, Belgium, etc.
Payment
record: Slow but Correct
Location: Business area in
Kofu City, Yamanashi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Kofu Shinkin Bank (Minami)
Resona Bank (Kofu)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/08/2015 |
31/08/2014 |
31/08/2013 |
31/08/2012 |
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Annual
Sales |
270 |
260 |
250 |
210 |
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Recur.
Profit |
.. |
.. |
.. |
.. |
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Net
Profit |
7 |
6 |
5 |
2 |
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Total
Assets |
N/A |
N/A |
N/A |
||
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Net
Worth |
111 |
105 |
100 |
||
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Capital,
Paid-Up |
5 |
5 |
5 |
||
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Div.P.Share(¥) |
0.00 |
0.00 |
0.00 |
||
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth
Rate |
3.85 |
4.00 |
19.05 |
0.00 |
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Current
Ratio |
.. |
.. |
.. |
||
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N.Worth
Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
2.59 |
2.31 |
2.00 |
0.95 |
Notes: Financials are only partially
disclosed. Profits are not disclosed and only
estimated.
Forecast (or estimated) figures for the
31/08/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
|
1 |
Rs.100.12 |
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Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.